The dollar has fallen in Chile today

The President of the US Federal Reserve delivered a speech yesterday moderating expectations of rising market rates and immediately downplayed the value of the dollar globally. But as happened yesterday after the closure of the foreign exchange market, the local exchange rate reacted today.

At the close of trading on the day, the Chilean dollar was worth $ 669.5, which represents a sharp drop of $ 6 from the price of yesterday.

According to market players, the key lies in what was said yesterday by Fed Chairman Jerome Powell. In a speech that put investors on hold, the authorities said the interest rate was close to neutral, suggesting that the US central could pause the monetary normalization process. .

[1965] You might be interested in: Know how much the dollar is going to be at the end of December, according to experts

This has generated today a boom of emerging currencies, which for the moment are jumping up against the dollar, with a few exceptions.

It should be remembered that this badet clbad has experienced difficulties in 2018 due to the fact that during the first few months of the year, the Fed has shown signs of a decline in badets. a rate schedule more aggressive than that envisaged in 2017.

Moreover, the global quotation of the greenback – measured by the Dollar Index, which contrasts with a basket of currencies – has hardly changed after to have fallen yesterday with Powell's words.

Yes, it is planned. and more short-term volatility, as investors are still waiting for new developments in the China-US trade war. "The market is cautious before the start of the G-20 meeting, especially after Donald Trump declared that there remained" a lot "to be solved in the tariff fight with China," said Ricardo Bustamante, head of finance. business studies at Capitaria. In this line, the badyst says that after the event that will be held Saturday in Buenos Aires, the outlook for the foreign exchange market could be clearer.